Cyber AMI - cyber liability insurance

A summary of the main features and benefits of our Cyber AMI liability product is provided below:

Module 1A: Third party cyber business interruption

Covers third-party cyber business interruption, including damages and defence costs, up to a cost of £100,000, where this is caused by:

  • Unintentional transmission of any malware by the insured to a third-party.
  • Accidental loss of confidential information by the insured where such loss causes a third-party to suffer non-physical business interruption.

Module 1B: System restoration costs

Covers costs incurred (up to £100,000) in the restoration of the insured’s computer system following unauthorised modification by a hacker, malware, or malicious activity of employees.

Module 1C: Reputation management costs

Covers costs incurred in re-establishing the insured’s business reputation following damage by a hacker or malware which results in an adverse publicity occurrence.

PR specialists appointed to the insured for costs of up to £100,000.

Module 2: Multimedia liability

Essential for any business using social media such as Facebook, Twitter or LinkedIn.

Covers the damages and defence costs (up to £250,000) incurred in defending a claim brought against the insured by a third-party, specifically related to the following acts: 

  • Libel or slander;
  • Unintentional infringement of copyright, trademark or similar;
  • Plagiarism;
  • Infringement of privacy;
  • Unfair competition; or,
  • Liability arising from the insured’s negligence in the use of multimedia.

Module 3: Data extortion costs

Reimbursement of monies paid by the insured (up to £250,000) to prevent/ end an extortion threat by a hacker or other party.

Ideal for any entity holding high-value data (financial/health records) on publicly accessible servers (for example the web), and for those with e-commerce websites. 

As with other modules this is underpinned by a forensic investigation. Where possible we will identify and seek damages against the extortionist on behalf of the insured. 

Highly recommended for businesses using modern IT systems without knowledge inhouse to defend against cyber threats.

Module 4: Crisis management and notification costs

In the event of a data breach the insured will be covered for the costs (Up to £250,000) incurred in managing the fallout of the situation. The costs would include:
  • Identification of the cause of the breach through a cyber forensic assessment;
  • Assessment of the severity of the breach, and the parties affected by it;
  • Costs involved in notifying the affected parties and keeping stakeholders informed;
  • The implementation of a resolution plan to prevent the same or similar scenarios from arising with the insured in the future.

Module 5: Data breach penalty defence

Covers defence costs (up to £250k) incurred in defending against a data breach penalty. 

We will seek to mitigate against a monetary penalty, or reduce the penalty amount, awarded against the insured.

Specialist forensics are provided to ensure a precise and accurate defence can be assembled on behalf of the insured.

Covers defence costs for current penalties managed by the ICO under the data protection act, and future penalties being considered by the European Union.

Module 6: Cyber business interruption

Covers the insured for non-physical business interruption (up to £1,000,000) in the event of loss of access or control of computer systems and their data causes downtime in operations as a result of:
  • Malicious use of the computer system by an employee, service provider or hacker to modify, delete or damage electronic data or storage media or deny legitimate users access to the insured’s computer system; 
  • Unauthorised use of computer systems;
  • Malware.

Essential cover where the insured makes use of e-commerce in their business model. 

Covers all modern areas of at-risk cyber facilities, including cloud services, web marketing and traditional IT.

Most advanced non-physical business interruption cover available in the UK.

Please refer to the key facts document and policy wording below for the full terms and conditions of our Cyber AMI product.

Sample policy documents - Cyber Liability

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